Johnson & Johnson Stock Forecast

Johnson & Johnson stock downgraded from Hold/Accumulate to Sell Candidate after Thursday trading session.
(Updated on May 02, 2024)

JNJ Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 3.79%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Johnson & Johnson stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $151.78. On a fall, the stock will find some support from the short-term average at $147.71. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Johnson & Johnson stock

Johnson & Johnson finds support from accumulated volume at $149.56 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $3.19 between high and low, or 2.14%. For the last week the stock has had daily average volatility of 1.66%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (JNJ) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect Johnson & Johnson to open at $150.46, and during the day (based on 14 day Average True Range), to move between $147.25 and $152.59, which gives a possible trading interval of +/-$2.67 (+/-1.78%) up or down from last closing price. If Johnson & Johnson takes out the full calculated possible swing range there will be an estimated 3.56% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $149.56 (0.24%) than the resistance at $151.18 (0.84%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Johnson & Johnson stock A Buy?

Johnson & Johnson holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.787 Sell Candidate Downgraded

Predicted Opening Price for Johnson & Johnson of Friday, May 3, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.